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Market Update – Spring 2019
 

As we head into Spring it will be interesting to see if the traditionally favourite season for house selling can work its magic on the local market. Since my last update at the end of 2018 demand from first time buyers for properties between £300,000 - £500,000 has been strong and this has been evidenced by our having sold over 50% of the 24 available flats for sale at our Greencrest Place development on Dollis Hill Lane where we have a mixture of 1, 2 and 3 bedroom refurbished and newly built apartments (some with magnificent views) and these flats have sold to first time buyers (some using the government ‘Help-To-Buy’ Scheme). We are having an Open Weekend at Greencrest Place on Saturday the 6th and Sunday the 7th of April where you will be able to view our Show Flats, enjoy the Greencrest experience and on our homepage there is a link to the Greencrest Place brochure where you can see floor plans and details for these spacious apartments..

If you wish to view the Show Flats on Saturday the 6th of April then please telephone our office to arrange your personal appointment as we expect it to be a busy weekend..

In general business has been brisk over the last few months despite the normal dip over Christmas and New Year and we have found that through active marketing, customer care and follow up we have achieved tremendous results and I am proud of my Sales Team for their diligent and pro-active work ethic. Unfortunately we still have Brexit looming over us and I fear that until this is resolved it will be a testing time for all estate agents.

We have recently been successful in selling several houses on the ‘Dollis Hill Estate’ and my Sales Team have recently achieved results in Lancaster Road, Cullingworth Road, Aberdeen Road, Normanby Road and Helena Road and if you have a property to sell on the Dollis Hill Estate we would welcome hearing from you as we love selling these houses. Some vendors have a view that if you want to sell a house in Fleetwood Road, Ellesmere Road, Hamilton Road or similar streets you need to use an agent say in Willesden Green or Kensal Rise. The opposite in fact is the case because 90% of house buyers use the internet and to a large extent where an agents office is located is becoming academic because if your property is displayed on Rightmove, Zoopla and other main sites and your agent is dealing with the enquiries from those sites properly you could almost have an agent in Birmingham selling houses on the Dollis Hill Estate and be successful.

Overall house prices have fallen in the last three years partly due to the increased buy-to-let taxes and more recently because of the uncertainty of Brexit. I believe that prices will continue to drop over the next year or so and it could be as far ahead as 2020/2021 before there is any significant uplift in house prices and therefore if you want to move waiting is not the answer because the likelihood is your property will be worth less in December 2019 than it is now and remember if you are buying and selling at the same time you are only moving money around between two properties in the same market and therefore you will be no worse off if you buy and sell simultaneously.

Help-To-Buy is very popular at present with first time buyers and we have three developments currently on offer with Help-To-Buy at Greencrest Place on Dollis Hill Lane (overlooking Gladstone Park), at Kenwyn Drive where we have two remaining spacious apartments starting at £375,000 and at Dudden Hill Lane at the junction with Sonia Gardens where we have three remaining Help-To-Buy units ranging from 1 to 3 bedrooms and details of all these properties can be found on our website.

Lettings have held up well recently with continued demand for rental property and we are finding rents are pretty static at the moment and if you have a property to let in NW2, NW10 or NW9 please contact Jo or Salman at the office so they can discuss your situation and how best they can help you.  

If you have a property in NW2, NW10 or NW9 that you wish to sell please telephone me personally on 0208 450 1633 so I may arrange to provide you with an up-to-date valuation of your property and discuss your requirements.

I look forward to hearing from you.

JOHN S HOOPER, FNAEA

FOR HOOPERS